Elite Hotel Management Acquires Drury Inn in Norcross, GA
Thursday June 5th, 2014 - 9:29AM HEO
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NORCROSS, GA—Elite Hotel Management has purchased the Drury Inn and Suites Atlanta Northeast here in a deal brokered by Paramount Lodging Advisors (PLA).
Opened in 1997, the 136-room hotel was sold by St. Louis-based DDC Hotels, Inc., and is located some 10 miles north of the Buckhead District.
Commerce, GA-based Elite Hotel Management plans to rebrand the property as a Hampton Inn.
According to Joce Messinger of PLA, "Drury constructed an excellent product on the front-end, which made it an ideal candidate for reposition at sale. This hotel in particular had multiple rebranding options available, including Hampton Inn, so the buyer pool was very deep," he noted.
Tags: Paramount • Drury Inn • Elite Hotel Management • Hospitality • Acquisitions • Ownership • Management Companies •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.